Australian Employment Tumbles in December

Australian Dollar Hits Three-Year Low on Data

By

James Glynn

Updated Jan. 16, 2014 3:02 a.m. ET

Australia's unemployment picture worsened, exacerbating the central bank's dilemma over whether to give the economy a boost by further cutting interest rates, or to back off to avoid fanning inflation and prevent a surging property market from overheating.

The number of people in full-time work fell by 22,600 in December, government data showed Thursday, capping the worst year for jobs growth in almost two decades.